Northern America: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Northern America

In 2022, the North American needle roller bearing market decreased by -9.4% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, posted notable growth. The level of consumption peaked at $X in 2021, and then fell in the following year.

Needle Roller Bearing Production in Northern America

In value terms, needle roller bearing production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw notable growth. The growth pace was the most rapid in 2019 with an increase of 1,247% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Needle Roller Bearing Exports

Exports in Northern America

In 2022, approx. X tons of needle roller bearings were exported in Northern America; rising by 4.9% compared with 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 38% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, needle roller bearing exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

The United States represented the key exporter of needle roller bearings in Northern America, with the volume of exports reaching X tons, which was approx. 86% of total exports in 2022. It was distantly followed by Canada (X tons), making up a 14% share of total exports.

The United States was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of +1.8% from 2012 to 2022. Canada (-7.0%) illustrated a downward trend over the same period. The United States (+15 p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by -14.6% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest needle roller bearing supplier in Northern America, comprising 92% of total exports. The second position in the ranking was held by Canada ($X), with a 7.9% share of total exports.

In the United States, needle roller bearing exports expanded at an average annual rate of +4.8% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, falling by -10.1% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the export price increased by 57%. The level of export peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%).

Needle Roller Bearing Imports

Imports in Northern America

In 2022, overseas purchases of needle roller bearings increased by 3.2% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 53% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, needle roller bearing imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States represented the largest importer of needle roller bearings in Northern America, with the volume of imports resulting at X tons, which was near 86% of total imports in 2022. It was distantly followed by Canada (X tons), mixing up a 14% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to needle roller bearing imports into the United States stood at +1.7%. At the same time, Canada (+7.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +7.4% from 2012-2022. Canada (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -5.4% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported needle roller bearings in Northern America, comprising 81% of total imports. The second position in the ranking was taken by Canada ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, rising by 3.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 15% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.9%).

Source: IndexBox Platform

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